National Bank of Canada FI Has $9.70 Million Stake in DICK’S Sporting Goods, Inc. (NYSE:DKS)

National Bank of Canada FI grew its stake in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,376 shares of the sporting goods retailer’s stock after purchasing an additional 2,871 shares during the period. National Bank of Canada FI’s holdings in DICK’S Sporting Goods were worth $9,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Wave Wealth Advisors LLC bought a new position in DICK’S Sporting Goods in the fourth quarter valued at about $28,000. Rialto Wealth Management LLC acquired a new position in shares of DICK’S Sporting Goods in the fourth quarter valued at approximately $30,000. Sound Income Strategies LLC raised its holdings in DICK’S Sporting Goods by 590.0% in the 4th quarter. Sound Income Strategies LLC now owns 138 shares of the sporting goods retailer’s stock valued at $32,000 after buying an additional 118 shares during the last quarter. Promus Capital LLC acquired a new stake in DICK’S Sporting Goods during the 4th quarter worth approximately $48,000. Finally, SBI Securities Co. Ltd. bought a new stake in DICK’S Sporting Goods during the 4th quarter worth approximately $55,000. 89.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

DKS has been the subject of several analyst reports. Wedbush reaffirmed a “neutral” rating and set a $215.00 price target on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. Truist Financial set a $245.00 target price on DICK’S Sporting Goods in a research report on Tuesday, March 11th. Robert W. Baird decreased their price target on DICK’S Sporting Goods from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Argus lifted their price objective on DICK’S Sporting Goods from $255.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, TD Cowen increased their target price on shares of DICK’S Sporting Goods from $270.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $245.50.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, EVP Julie Lodge-Jarrett sold 5,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $227.99, for a total value of $1,139,950.00. Following the completion of the sale, the executive vice president now directly owns 16,504 shares of the company’s stock, valued at approximately $3,762,746.96. This represents a 23.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Edward W. Stack sold 160,600 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $229.25, for a total transaction of $36,817,550.00. Following the completion of the sale, the chairman now owns 8,362,128 shares of the company’s stock, valued at approximately $1,917,017,844. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 32.03% of the company’s stock.

DICK’S Sporting Goods Stock Performance

DKS opened at $182.63 on Friday. DICK’S Sporting Goods, Inc. has a 1-year low of $168.22 and a 1-year high of $254.60. The company has a market cap of $14.88 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 2.47 and a beta of 1.53. The company’s fifty day moving average price is $219.03 and its two-hundred day moving average price is $216.05. The company has a current ratio of 1.72, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings results on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.15. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.76 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.85 EPS. On average, analysts expect that DICK’S Sporting Goods, Inc. will post 13.89 EPS for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $1.2125 dividend. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $1.10. This represents a $4.85 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, March 28th. DICK’S Sporting Goods’s dividend payout ratio is presently 34.54%.

DICK’S Sporting Goods announced that its Board of Directors has approved a share buyback plan on Tuesday, March 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the sporting goods retailer to repurchase up to 18.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

DICK’S Sporting Goods Company Profile

Dick’s Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.